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On July 14, Jennifer Rick went to Park Bank to borrow $1,400 at 6.5% interest. Jennifer plans to repay the loan on March 27. Steven

On July 14, Jennifer Rick went to Park Bank to borrow $1,400 at 6.5% interest. Jennifer plans to repay the loan on March 27. Steven Linden met Jennifer Rick at Park Bank and suggested she consider the loan on exact interest. Calculate the loan payoff for Jennifer under this assumption. (Use Days in a year table.) (Round your answer to the nearest cent.)

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